CYPRIOTS rank third in Europe behind Greeks and Italians as far as spending money on clothing and footwear is concerned.
The government Statistical Services released the findings, which also reveal that Cyprus ranks 19th in spending on entertainment and culture.
President of the Consumers’ Association Petros Marcou told the Cyprus Mail that, “the facts speak for themselves. We accept these statistics and need to interpret them correctly.
“However, I must say that the above findings reveal how materialistic Cypriots are. They place a greater emphasis on their appearance rather than on other important issues.
“But I feel that a good percentage of consumers are not represented in the findings and we need to look at what percentage of the population they apply to, as they establish averages only. For example, low-income groups such as pensioners on welfare can’t afford to spend money on the above things.”
Further statistics show that Cypriots also spend seven per cent of their annual salary on household goods, six per cent on alcohol and cigarettes, four per cent on health, three per cent on education and two per cent on telecommunications. As far as alcohol and cigarettes are concerned, there’s been an increase in spending of one per cent compared to 10 years ago.
Marcou added that it was important to compare these statistics with those in other European countries in order to get a wider perspective.
Comparing 1995 with 2003, there has been a decrease in spending in the hotel and restaurant sector, with Cypriots frequenting these establishments on a smaller basis.
Even though Cyprus ranks so highly in clothing and footwear expenditure, Cypriots are actually spending nearly one per cent less per year on these things. For example, 1995 saw an average household spend 7.7 per cent of their income buying clothing and footwear. In 2003, they spent approximately seven per cent.